"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision, author of Things That Make You Go Hmmm...one of the world's most popular & widely-read financial publications.

Saturday, 17 December 2016

Sydney median +4.9pc in spring quarter to record $1.1m

Sydney auctions limped over the line in the final auction weekend of the year, recording a considerably softer preliminary clearance rate of 71 per cent.

Being the final auction week of the year - indeed the last until the week of February 7 - there were fewer auctions in the top quintile this week, reflected in a reduced median auction price of $1,055,000.

This is much lower than the record high which was experienced only six weeks ago.

Overall, though, it was a spectacular spring with consistently high auction clearance rates in Sydney.

Domain reported that the median house price in Sydney boomed by +4.9 per cent in the November quarter to a new high of $1,106,415.

Over the year, Sydney's median house price increased by +7.4 per cent.

Unit prices in Sydney also experienced a strong quarter, rising by +3.6 per cent to a record $712,002.

All quiet on the auction front for the next seven weeks.

Domain predicts further house price growth in the largest capital cities in 2017.